Navitas Q3 revenue $22M (up 115% YoY); guides Q4 $25-26M

Navitas Semiconductor Corp

2023-Q3 EPS reported -$0.68 revenue$53,399,000

Revenue $22.0M, up 115% YoY and 22% sequentially; GAAP gross margin 32.3%, non-GAAP 42.1%.
GAAP operating loss $28.6M; non-GAAP operating loss $8.7M. Cash $176.7M.
Q4 guidance: revenue $25.0-$26.0M, gross margin ~42.5%, operating expenses ~$20.0M.
New platforms: GaNSafe, Gen-4 GaNSense, Gen-3 Fast SiC, and bi-directional GaN for high-power markets.
Customer wins: Xiaomi, Oppo, Samsung; GaN adoption in mobile chargers and new EV OBC platform.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Navitas Semiconductor Corp reported third quarter ended September 30, 2023 results: revenue $22.0 million.

Period: third quarter ended September 30, 2023
Revenue: $22.0 million
Result: reported results

Exact text from the filing

across GaN and SiC. We expect Navitas’ revenues to far exceed market growth rates in 2024 and for years to come.” Financial Highlights • Revenue: Total revenue grew to $22.0 million in the third quarter of 2023, a 115% increase from $10.2 million in the third quarter of 2022 and a 22% increase from $18.1 million in the second quarter of 2023. • Gross Margin:

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Source: SEC EDGAR

accession 0001821769-23-000174

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